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1833 E Brown Road Mesa, AZ 85203

3 Beds 2 Baths 1,741 sqft Built 1935

$340,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1935
  • Price/Sqft : $195.29
  • 3 Days on Market
  • MLS # : 6197783
  • Updated Date : 02/26/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,741 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Charming historic home sits on a large irrigation lot located on Brown Rd in the heart of Mesa. Lots of gorgeous green grass and shade with 5 beautiful mature citrus trees. Easy access from the front and rear of the property. Unattached storage shed. Perfect home for any entrepreneur or investor. So much potential for small business to grow. NO HOA! SPLIT FLOOR PLAN WITH 3 SEPERATE ENTRANCES. New owners may look into applying for commercial zoning. Conveniently located to local businesses and close to the 202 for an easy commute. You are invited to Make your dreams happen in 2021.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Poston Junior High School Middle Regular 997 54 6
Mountain View High School High Regular 3,180 144 8

Poston Junior High School

  • Education Level: Middle
  • # of students: 997
  • # of teachers: 54
6
GreatSchools Rating

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,181
Property Tax -$176
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
$52

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$340,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$25,924

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,570

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5703$1,6754$1,795
$1,795
RENT COMPS ANALYSIS
  • 1833 E Brown Road Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1935
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.90
    •  
  • 9 N Fraser Drive Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1945
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 27 N Bellview -- Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1947
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.02
    •  
  • 61 S Temple Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
PROPERTY LISTING DETAILS
Anna Noriega
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6197783
Last Updated: 02/26/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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